Davidson Investment Advisors lifted its stake in Gildan Activewear Inc. (NYSE:GIL - Free Report) TSE: GIL by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 437,314 shares of the textile maker's stock after buying an additional 5,631 shares during the period. Davidson Investment Advisors owned about 0.29% of Gildan Activewear worth $20,576,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in GIL. CIBC Asset Management Inc boosted its stake in Gildan Activewear by 545.1% during the fourth quarter. CIBC Asset Management Inc now owns 1,210,314 shares of the textile maker's stock worth $57,403,000 after buying an additional 1,022,695 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Gildan Activewear during the 3rd quarter worth about $24,262,000. Janus Henderson Group PLC boosted its position in shares of Gildan Activewear by 3.6% during the 3rd quarter. Janus Henderson Group PLC now owns 6,841,572 shares of the textile maker's stock valued at $322,298,000 after acquiring an additional 240,375 shares in the last quarter. Simcoe Capital Management LLC increased its stake in Gildan Activewear by 10.5% in the third quarter. Simcoe Capital Management LLC now owns 2,387,865 shares of the textile maker's stock valued at $112,492,000 after acquiring an additional 226,695 shares during the period. Finally, Natixis Advisors LLC raised its position in Gildan Activewear by 59.0% in the third quarter. Natixis Advisors LLC now owns 523,035 shares of the textile maker's stock worth $24,640,000 after purchasing an additional 194,128 shares in the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on GIL. TD Securities lifted their price objective on Gildan Activewear from $62.00 to $65.00 and gave the company a "buy" rating in a report on Thursday. Canaccord Genuity Group boosted their price target on Gildan Activewear from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, November 1st. CIBC increased their price objective on Gildan Activewear from $56.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday. Canaccord Genuity Group boosted their target price on shares of Gildan Activewear from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Citigroup increased their target price on shares of Gildan Activewear from $59.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $60.00.
Check Out Our Latest Stock Report on GIL
Gildan Activewear Price Performance
Shares of NYSE GIL traded down $0.91 during trading on Friday, reaching $54.18. The company had a trading volume of 541,031 shares, compared to its average volume of 531,689. Gildan Activewear Inc. has a 52 week low of $32.23 and a 52 week high of $55.39. The business's 50 day moving average price is $49.47 and its 200-day moving average price is $47.54. The stock has a market cap of $8.24 billion, a PE ratio of 21.67, a PEG ratio of 1.74 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.98 and a current ratio of 2.31.
Gildan Activewear (NYSE:GIL - Get Free Report) TSE: GIL last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.30). The firm had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.75 million. Gildan Activewear had a return on equity of 27.49% and a net margin of 12.26%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. Analysts expect that Gildan Activewear Inc. will post 3.44 earnings per share for the current year.
Gildan Activewear Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Wednesday, March 12th will be issued a $0.226 dividend. This is a boost from Gildan Activewear's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.90 annualized dividend and a yield of 1.67%. Gildan Activewear's dividend payout ratio (DPR) is currently 32.80%.
Gildan Activewear Profile
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Free Report)
Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.
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